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 Profit and Loss Questions

Popular Latest Rated Important Formulae

FACTS  AND  FORMULAE  FOR  PROFIT  AND  LOSS  QUESTIONS

 

 

Selling Price (SP) : The price at which the shopkeeper sells the goods is called the selling price (SP) of the goods sold by the shopkeeper.

 

Profit : If the selling price of an article is more than its cost price, then the dealer (or shopkeeper) makes a profit (or gain)

i.e Profit = SP - CP;       SP > CP

 

Loss : If the selling price of an article is less than its cost price, then the dealer suffers a loss.

i.e loss = CP - SP;        CP > SP

 

IMPORTANT FORMULAE


1. Profit percentage = ProfitC.P×100

 

2. Loss percentage = LossC.P×100

 

3.S.P=100+Gain %100×C.P = 100-Loss%100×C.P

 

4. C.P=100100+Gain %×S.P = 100100-Loss %×S.P 

5. If an article is sold at a gain of say 35%, then SP = 135% of CP

6. If an article is sold at a loss of say 35%, then SP = 65% of CP

7. When a person sells two similar items, one at a gain of say x%, and the other at a loss of x%, then the seller always incurs a loss given by :Loss % =Common Loss and Gain %10 2=x102

 

8. If a trader Professes to sell his goods at cost price, but uses false weihts, then 

Gain % =ErrorTrue Value - Error×100%

Q:

Manisha went to shop with certain amount, with which she can buy 50 Chacobar or 40 Fivestar. She uses 10% amount for petrol and out of the remaining balance, she purchases 20 Fivestar and some Chacobar. Find the number of Chacobar she can buy?

A) 20 B) 24
C) 26 D) 28
 
Answer & Explanation Answer: A) 20

Explanation:

Let the total amount be 200 {L.C.M of 40 and 50}

Chacobar C.P. = 200/50 = 4

Fivestar C.P = 200/40 = 5

Remaining Money after petrol = [200 - 200×10%] = 180

Remaining money after buying fivestars = [180 - 20×5] = 80

So number of Chacobar she can buy = 80/4 = 20

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Q:

Karthik incurred a loss of 40 percent on selling an article for Rs. 5,640. At what price should he have sold the item to have profit of 25%?

A) Rs. 11750 B) Rs. 12550
C) Rs. 13650 D) Rs. 11550
 
Answer & Explanation Answer: A) Rs. 11750

Explanation:

From the given data,

The cost price of the article = 5640 x 100/60 = Rs. 9400

The selling price of the article to gain 25% profit = 9400 x 125/100 = Rs. 11750.

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21 3270
Q:

Arun is a cashew merchant in Telangana. He has cashews in sealed wooden boxes of 10kg each. The price of the cashew increases by Rs.20 per kg for every year, but at the same time, 10% of the cashews are eaten by rodents every year. If the price of a 1 kg of fresh cashew is Rs.120, what is the change in his profits if he sells a sealed box after one year of storage, rather than selling it fresh ? (In Rs.)

A) Rs. 60 B) Rs. 54
C) Rs. 80 D) Rs. 75
 
Answer & Explanation Answer: A) Rs. 60

Explanation:

Price of 1kg fresh cashew = Rs.120
Therefore, price of 10kg = Rs.120 x 10 = Rs.1200

10% of 10kg which eaten by rodents = 10 x 10/100 = 1kg.

So, End of Year he had 10kg - 1kg = 9kg

So, he sells that 9kg with Rs.20 per kg profit = 9 x 140 = 1260.

He buy 10kg wooden box with cashew for Rs.1200 and sell that for Rs. 1260

So, profit = 1260 - 1200 = Rs.60 more money he get.

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3 3124
Q:

The ratio of selling price to the cost price is 21 : 16. What is the profit percentage?

 

A) 35.75 B) 21.75  
C) 27.75 D) 31.25
 
Answer & Explanation Answer: D) 31.25

Explanation:
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0 3078
Q:

Mr. Rajan invested Rs 1,00,000 in US Stock Markets when the GBPINR rate was 75. After one year his investment appreciated by 20% in GBP terms. He sold of his investments and repatriated the money to India at the then existing rate of 80. what was real returns in INR?

A) loss of 24% B) gain of 28%
C) loss of 28% D) gain of 20%
 
Answer & Explanation Answer: B) gain of 28%

Explanation:

Money invested by Rajan before 1 year was = Rs. 100000

Money in UK pounds @ 75 is = 100000/75 = 1333.33 Pounds

 

Now, after 1 year invested amount was appreciated by 20%

=> 20% of 1333.33 = 266.66

 

Total investment becomes = 1333.33 + 266.66 = 1600 Pounds

This 1600 Pounds @ Indian currency at 80 = 1600 x 80 = Rs. 1,28,000

 

Hence, Rajan's investment of Rs. 1,00,000 becomes Rs. 1,28,000 in 1 year

 

Therefore, his profit % = [(128000 - 100000)/100000] x 100 = 28%.

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9 3048
Q:

A man sell 35 waffers for Rs. 15 each and loses Rs. 40.4. If he sells 35 waffers for Rs. 18, how much does he loss or gain ?

A) Rs. 64 B) Rs. 52
C) Rs. 72 D) Rs. 55
 
Answer & Explanation Answer: A) Rs. 64

Explanation:

Given Loss = Rs. 40.4
We know loss = cost price - selling price
40.4 = CP - 35(15)
=> CP = 40.4 + 525
=> CP = Rs. 565.4
Now the New selling price of waffer is Rs. 18
=> SP = 35(18) = 630
Now Gain = SP - CP = 630 -565.4 = Rs. 64.6.

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5 3019
Q:

The cost price of a college bag is 240% more than the profit obtained on it selling at Rs. 1540. What is the cost price of that college bag?

A) Rs. 1190 B) Rs. 1288
C) Rs. 1365 D) Rs. 1452
 
Answer & Explanation Answer: A) Rs. 1190

Explanation:

Let the profit be Rs. p

Then Cost price of the bag = 340p/100 = 3.4p

According to question,

3.4p + p = 1540

4.4p = 1540

p = 1540/4.4

p = 350

The profit p = Rs, 350

 

Hence, The cost price of the bag = 3.4p = 3.4 x 350 = Rs. 1190.

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14 2972
Q:

Selling price of a cellphone is increased by 20%. For this sale is decreased by 30%. Find the effect of total sales?

A) 16% B) 14.5%
C) 12% D) 10.5%
 
Answer & Explanation Answer: A) 16%

Explanation:

Let cost of each cell phone = Rs.100 & Sale = 100 phones.

Money receipt = Rs.(100 x 100) = Rs.10,000

New cost per cellphone = Rs.120 and New sale = 70 phones

New Money Receipt = Rs.(70 x 120) = Rs.8400

Then the effect of sales = decrease in money receipt = 

160010000 x 100 = 16%.

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